Randy Neugebauer: “I rise tonight to make a clarifying amendment on this bill. One of the things that this bill does is it clarifies the…”

“I rise tonight to make a clarifying amendment on this bill. One of the things that this bill does is it clarifies the amendment to ensure that the portfolio standard be based solely on the safety and soundness to the enterprises and not any of the broader systemic concerns. We have the financial housing industry financing model of the world. Because of the model we have in place today, America enjoys one of the highest home ownership rates in the history of this country. More people own a home today than at any time in the history of this country. Primarily a lot of that housing affordability and the ability for Americans has been because of our tremendous secondary market, the ability to provide home mortgages for Americans all over this country. This legislation clarifies that when the regulator looks at regulating this entity, that he looks at the safety and soundness of that entity and not external factors. Just like when we regulate banks, we set certain standards for their capital, for their loan ratios and all of those other factors, and we should not look at this entity any different than we look at other entities. So really this is a clarifying amendment. It just says we are going to look at the safety and soundness of how this company is running their business. We shouldn't put things out there that the regulator is not able to, quite honestly, articulate, because what is a systemic risk?”